Reference Based Pricing
Reference-based pricing is a feature of self-funding that benefits employers looking to limit costs in their healthcare plan by proving a fixed amount for each of their healthcare services. The motivation behind reference-based pricing is to drive transparency to the pricing of the procedures and the plans overall; as well as reduce the cost for employers. Typically, these plans are used for procedures with high-cost variation like knee replacements or hip surgeries. Another benefit of this system is that all claims are audited to ensure appropriate spending on each claim filed.
IEN does not take the standard approach to employee benefit advising. When it comes to reference-based pricing, our firm is full of experienced advisors and on-staff medical clinicians that navigate the healthcare industry for your best interest and help make health care transparent for you and your business.